Update to 2022 Underground Diamond Drill Program

RNS Number : 1327J

Rambler Metals & Mining PLC

25 April 2022

 

25 April, 2022

  Rambler Continues to Intersect High Copper Grades in the Lower Footwall and Ming North Zones

London, England & Newfoundland and Labrador, Canada - Rambler Metals and Mining plc (AIM: RMM) ("Rambler" or "the Company"), a copper and gold producer, explorer and developer is pleased to provide an update to its 2022 underground diamond drill program at the Ming Copper-Gold Mine, Baie Verte, Newfoundland and Labrador, Canada. This is the first release of all data presented in this announcement.

Rambler has drilled over 5,600 meters year to date in 2022. The 2022 program is providing definition drilling in the Lower Footwall Zone ("LFZ") and is drill testing the recently discovered Jennings and LP East Zones. Additionally, further delineation drilling in the Ming North Zone ("MNZ") has been completed from the 795L down to the 830L.

Of note, holes R22-535-09 and R22-535-10 were extended 100 meters past the Jennings Zone and intersected copper mineralization of interest (see "New Discovery" intercepts below). This potential new zone of mineralization will be further drill tested once other priority work is completed.

DRILL HIGHLIGHTS

Drill Program Targeting Lower Footwall Zone (infill drilling) and exploring the Jennings and LP East Zones

*All reported intervals are downhole widths; true widths are 65-75% of downhole widths

§ R22-535-07

· 17.00m @ 2.31% Cu - LFZ, including

§ 7.00m @ 2.99% Cu and

§ 3.00m @ 3.43% Cu

· 9.00m @ 2.25% Cu - Jennings

§ R22-535-08

· 8.00m @ 2.49% Cu - LFZ

· 4.50m @ 4.74% Cu - Jennings  

§ R22-535-09

· 12.00m @ 2.29% Cu - LFZ

· 7.00m @ 2.29% Cu - LFZ

· 3.78m @ 6.39% Cu - Jennings

· 11.00m @ 1.43% Cu - "New Discovery"

§ R22-535-10

· 12.00m @ 1.63% Cu - LFZ

· 4.63m @ 2.80% Cu - Jennings

· 4.77m @ 1.51% Cu - "New Discovery"

§ R22-535-11

· 15.00m @ 1.88% Cu - LFZ

· 9.00m @ 1.72% Cu - Jennings

§ R22-535-12

· 11.40m @ 2.52% Cu - LFZ

· 19.30m @ 2.00% Cu - LFZ

· 5.00m @ 1.89% Cu - Jennings

§ R22-535-13

· 4.51m @ 2.51% Cu - LFZ

· 8.52m @ 2.34% Cu - LFZ

· 13.81m @ 2.61% Cu -LFZ

· 6.00m @ 1.93% Cu - LFZ

· 19.23m @ 2.05% Cu - LFZ

· 5.78m @ 2.64% Cu -LP East

§ R22-535-14

· 4.00m @ 2.32% Cu - LFZ

· 9.00m @ 2.01% Cu - LFZ

· 8.00m @ 1.72% Cu - Jennings

Ming North Zone Drilling Program

*All reported intervals are downhole widths; true widths are 65-75% of downhole widths

§ R22-795-01

· 7.90m @ 2.71% Cu

§ R22-795-02

· 18.40m @ 4.50% Cu

§ R22-795-03

· 6.50m @ 2.49% Cu

§ R22-795-04

· 6.00m @ 3.87% Cu

§ R22-795-06

· 4.97m @ 3.21% Cu

· 14.84m @ 12.16% Cu

§ R22-795-08

· 8.95m @ 2.74% Cu

· 22.07m @ 4.54% Cu

§ R22-795-10

· 16.00m @ 7.09% Cu

§ R22-795-11

· 13.00m @ 2.00% Cu

§ R22-795-12

· 4.60m @ 3.23% Cu

· 7.55m @ 3.35% Cu

The next phase of the drill program will be to continue to infill the planned LFZ stoping blocks identified in the 2024 mining plan, and to delimit the newly discovered Jennings and LP East Zones. These newly discovered zones are open in all directions and require drill hole definition to be put into the mining plan.

Toby Bradbury, President and CEO, commented:

"Rambler's diamond drill program has continued to demonstrate grade continuity in all drill holes through both the LFW and MNZ. With these new intercepts into the Indicated and Inferred portions of the MNZ resource, we are seeing encouraging results from the holes we have assayed to date. We are seeing better grades at depth, and expansion of the resource to the east. Once all results have been received and imported, and the data analyzed, we will report accordingly. Gold assays have been sent to a third party lab for results and will be reported once received. The higher grades seen with recent drilling and coupled with the easterly expansion of the zone is encouraging as it opens up the potential for this high-grade zone to become a larger portion of the mine production plan in the years to come."

To view Figure 1: Plan view of 535L drill program, please click here:  http://www.rns-pdf.londonstockexchange.com/rns/1327J_1-2022-4-24.pdf

Table 1 : Details of 535L drilling intersections

Hole ID	From (m)	To (m)	*Width (m)	Copper (%)	Zone	**Assay Lab
R22-535-07	0.00	8.00	8.00	1.42	LFZ	NP
	70.00	87.00	17.00	2.31	LFZ	NP
including	70.00	77.00	7.00	2.99	LFZ	NP
and	84.00	87.00	3.00	3.43	LFZ	NP
	99.00	102.00	3.00	1.58	LFZ	NP
	111.00	120.00	9.00	2.25	Jennings	NP
R22-535-08	0.00	9.00	9.00	1.51	LFZ	NP
	84.00	92.00	8.00	2.49	LFZ	NP
	126.50	131.00	4.50	4.74	Jennings	NP
R22-535-09	36.00	48.00	12.00	2.29	LFZ	NP
	63.00	66.00	3.00	1.86	LFZ	NP
	69.00	74.00	5.00	1.91	LFZ	NP
	98.00	105.00	7.00	2.29	LFZ	NP
	117.22	121.00	3.78	6.39	Jennings	NP
	126.00	132.00	6.00	1.58	Jennings	NP
	235.00	246.00	11.00	1.43	"New Discovery"	NP
R22-535-10	1.00	10.00	9.00	1.35	LFZ	NP
	87.00	99.00	12.00	1.63	LFZ	NP
	105.85	109.12	3.27	2.85	LFZ	NP
	130.37	135.00	4.63	2.80	Jennings	NP
	242.23	247.00	4.77	1.51	"New Discovery"	NP
R22-535-11	45.00	48.00	3.00	2.44	LFZ	NP
	91.00	106.00	15.00	1.88	LFZ	NP
	153.00	162.00	9.00	1.72	Jennings	NP
R22-535-12	53.50	57.00	3.50	1.98	LFZ	NP
	88.21	94.00	5.79	1.74	LFZ	NP
	103.00	106.00	3.00	2.60	LFZ	NP
	114.00	125.40	11.40	2.52	LFZ	NP
	129.20	148.50	19.30	2.00	LFZ	NP
	159.23	162.00	2.77	3.13	LFZ	NP
	207.00	212.00	5.00	1.89	Jennings	NP
	232.00	238.00	6.00	1.31	Jennings	NP
R22-535-13	42.00	44.10	2.10	2.01	LFZ	NP
	47.49	52.00	4.51	2.51	LFZ	NP
	60.00	68.52	8.52	2.34	LFZ	NP
	86.00	99.81	13.81	2.61	LFZ	NP
	108.00	114.00	6.00	1.93	LFZ	NP
	129.00	142.23	13.23	2.05	LFZ	NP
	152.67	158.45	5.78	2.64	LP East	NP
	195.00	198.00	3.00	1.64	LP East	NP
	205.00	209.00	4.00	1.88	LP East	NP
R22-535-14	72.00	75.50	3.50	1.62	LFZ	NP
	111.00	115.00	4.00	2.32	Jennings	NP
	122.00	131.00	9.00	2.01	Jennings	NP
	137.00	145.00	8.00	1.72	Jennings	NP

*All reported intervals are downhole widths; true widths are 65-75% of downhole widths

**NP = Nugget Pond internal assay laboratory

To view Figure 2: Section view of 535L holes 7, 8, 11, and 14, looking south, please click here:  http://www.rns-pdf.londonstockexchange.com/rns/1327J_2-2022-4-24.pdf

To view Figure 3:Section view of 535L holes 9 and 10, looking south, please click here:  http://www.rns-pdf.londonstockexchange.com/rns/1327J_3-2022-4-24.pdf

To view Figure 4: Section view of 535L holes 13 and 14, looking south, please click here:  http://www.rns-pdf.londonstockexchange.com/rns/1327J_4-2022-4-24.pdf

To view Figure 5: Plan view of 795L drill program, please click here:  http://www.rns-pdf.londonstockexchange.com/rns/1327J_5-2022-4-24.pdf

Table 2 : Details of 795L drilling intersections

Hole ID	From (m)	To (m)	*Width (m)	Copper (%)	Zone	**Assay Lab
R22-795-01	38.00	45.90	7.90	2.71	MNZ	NP
R22-795-02	61.50	79.90	18.40	4.50	MNZ	NP
including	73.00	79.90	6.90	8.41	MNZ	NP
R22-795-03	59.00	65.50	6.50	2.49	MNZ	NP
R22-795-04	12.00	15.35	3.35	1.60	MNZ	NP
	41.00	47.00	6.00	3.87	MNZ	NP
R22-795-05	No Significant Assays
R22-795-06	52.80	55.13	2.33	2.12	MNZ	NP
	64.43	69.40	4.97	3.21	MNZ	NP
	72.00	74.25	2.25	2.91	MNZ	NP
	87.00	89.35	2.35	6.97	MNZ	NP
	90.81	105.65	14.84	12.16	MNZ	NP
R22-795-07	No Significant Assays
R22-795-08	35.05	44.00	8.95	2.74	MNZ	NP
	52.67	74.74	22.07	4.54	MNZ	NP
including	67.07	74.74	7.67	6.96	MNZ	NP
	80.50	84.22	3.72	2.78	MNZ	NP
R22-795-09	15.00	17.43	2.43	1.84	MNZ	NP
	57.00	59.37	2.37	2.99	MNZ	NP
	68.00	69.53	1.53	5.51	MNZ	NP
R22-795-10	119.00	135.00	16.00	7.09	MNZ	NP
including	119.25	128.00	8.75	11.54	MNZ	NP
R22-795-11	22.00	35.00	13.00	2.00	MNZ	NP
R22-795-12	97.00	113.55	16.55	2.63	MNZ	NP
including	97.00	100.00	3.00	4.35	MNZ	NP
and	110.00	113.55	3.55	4.04	MNZ	NP

*All reported intervals are downhole widths; true widths are 65-75% of downhole widths

**NP = Nugget Pond internal assay laboratory

To view Figure 6: Section view of 795L holes 1, 2, 3, 4, 9, 11 and 12, looking west, please click here:  http://www.rns-pdf.londonstockexchange.com/rns/1327J_6-2022-4-24.pdf

To view Figure 7: Section view of 795L holes 6, 8, and 10, looking west, please click here:  http://www.rns-pdf.londonstockexchange.com/rns/1327J_7-2022-4-24.pdf

The drilling program for the Ming Mine is being run under the supervision of Mark Ross, P. Geo., who is a qualified person as defined by NI43-101.

All drilling reported in this release was completed by an independent contractor with BQ-sized diamond core (76 mm diameter). Rambler employs an Oriented Core tool which provides valuable information in terms of the orientation of mineralized stringers, dip and dip direction of structure, lithology and foliation for future modelling and geotechnical interpretation. Logging and sampling of diamond drill core is completed on site by Rambler geologists who ship samples daily, using Rambler vehicles and drivers, to the Company's own laboratory for copper assay by standard x-ray fluorescence ("XRF") methodology. As part of its QA/QC program 10% of all samples processed are sent for duplicate analysis at an accredited external lab using standard XRF methodologies. Sample pulps are later shipped, using commercial freight services, to independent laboratories for gold assaying.

Tim Sanford, P.Eng., is the Qualified Person responsible for the technical content of this release and has reviewed and approved it accordingly.  Mr. Sanford is an employee of Rambler Metals and Mining Canada Limited. Tim Sanford consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears. Tim Sanford has sufficient experience, relevant to the style of mineralization and type of deposit under consideration and to the activity that he is undertaking, to qualify as a "competent person" as defined by the AIM rules.

Tonnes referenced are dry metric tonnes unless otherwise indicated; unless otherwise noted all figures are quoted in $USD.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR'), incorporated into UK law by the European Union (Withdrawal) Act 2018.  Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside is now considered to be in the public domain.

ABOUT RAMBLER METALS AND MINING

Rambler is a mining and development Company that in November 2012 brought its first mine into commercial production.  The group has a 100% ownership in the Ming Copper-Gold Mine, a fully operational base and precious metals processing facility and year-round bulk storage and shipping facility; all located on the Baie Verte peninsula, Newfoundland and Labrador, Canada.

Rambler's focus is to regain its production profile at 1,350 metric tonnes per day at 2% copper in the course of 2022 and evaluate expansion opportunities from that base.

Along with the Ming Mine, Rambler also owns 100% of the former producing Little Deer and Whales Back copper mines.

Rambler is listed in London under AIM:RMM.

 

For further information, please contact:

Toby Bradbury President and CEO Rambler Metals & Mining Plc Tel No: [phone] Fax No: [phone]	Celeste Van Tonder CFO Rambler Metals & Mining Plc Tel No: [phone] Fax No: [phone]	Tim Sanford. P. Eng. VP & Corporate Secretary Rambler Metals & Mining Plc Tel No: [phone] Fax No: [phone]
Nominated Advisor (NOMAD)
Ewan Leggat, Caroline Rowe SP Angel Corporate Finance LLP Tel No: [phone]

Website: www.ramblermines.com

Caution Regarding Forward Looking Statements:

Certain information included in this press release, including information relating to future financial or operating performance and other statements that express the expectations of management or estimates of future performance constitute "forward-looking statements".  Such forward-looking statements include, without limitation, statements regarding copper, gold and silver forecasts, the financial strength of the Company, estimates regarding timing of future development and production and statements concerning possible expansion opportunities for the Company.  Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief are based on assumptions made in good faith and believed to have a reasonable basis.  Such assumptions include, without limitation, the price of and anticipated costs of recovery of, copper concentrate, gold and silver, the presence of and continuity of such minerals at modeled grades and values, the capacities of various machinery and equipment, the availability of personnel, machinery and equipment at estimated prices, mineral recovery rates, and others.  However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements.  Such risks include, but are not limited to, interpretation and implications of drilling and geophysical results; estimates regarding timing of future capital expenditures and costs towards profitable commercial operations.  Other factors that could cause actual results, developments or events to differ materially from those anticipated include, among others, increases/decreases in production; volatility in metals prices and demand; currency fluctuations; cash operating margins; cash operating cost per pound sold; costs per ton of ore; variances in ore grade or recovery rates from those assumed in mining plans; reserves and/or resources; the ability to successfully integrate acquired assets; operational risks inherent in mining or development activities and legislative factors relating to prices, taxes, royalties, land use, title and permits, importing and exporting of minerals and environmental protection.  Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement.  The forward-looking statements contained herein are made as at the date hereof and the Company does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise, except as required under applicable security law.

 

APPENDIX 1 - Glossary of Select Geological and Mining Terms

Term   Definition

''Au''   gold

"Ag"   silver

 ''concentrate''   in general, the saleable product resulting from crushing and grinding of mined ore in a processing plant along with concentration to remove impurities. Base metal operations can produce copper, lead and/or zinc concentrates

''Cu''   copper

''cut-off''   lowest grade of mineralised material considered economic, used in the calculation of ore reserves. Also used in reserve estimation, meaning all material higher than the given grade

''down plunge''   the direction within a rock mass indicated by linear features such as mineral lineation, fold axes or direction of maximum strain caused by deformation

''Footwall Zone'' or ''LFZ''   a mineralised zone beneath a geological feature such as a fault, another mineralised zone or bed

''grade''   relative quantity or the percentage of ore mineral or metal content in an ore body

''Indicated Mineral Resource''   that part of a Mineral Resource for which tonnage, densities, shape, physical characteristics, grade and mineral content can be estimated with a reasonable level of confidence. It is based on exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. The locations are too widely or inappropriately spaced to confirm geological and/or grade continuity but are spaced closely enough for continuity to be assumed ''massive sulphide'' occurrence of a concentrated mass of sulfide mineral such as pyrite, sphalerite or chalcopyrite in one place, as opposed to their being disseminated or occurring in vein

''Measured Mineral Resource''   that part of a Mineral Resource for which quantity, grade or quality, densities, shape, and physical characteristics are so well established that they can be estimated with confidence sufficient to allow the appropriate application of technical and economic parameters, to support production planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced

''Mineral Resource''   a concentration or occurrence of material of intrinsic economic interest in or on the Earth's crust in such form that there are reasonable prospects for eventual economic extraction. Mineral resources are sub-divided, in order of increasing confidence, into Inferred, Indicated and Measured categories

''mineralised''   containing or impregnated with minerals

''National Instrument 43-101''   provides standards of disclosure for mineral projects in Canada. It is a legal requirement in Canada for all oral and written disclosure of scientific or technical information on mineral deposits

 ''ore''   rock that can be mined and processed at a profit

 ''oz''   troy ounce (=31.103 grammes)

''Probable Mineral Reserves''   measured and/or indicated mineral resources which are not yet proven, but where technical economic studies show that extraction is justifiable at the time of the determination and under specific economic conditions

''Proven Mineral Reserves''   measured mineral resources, where technical economic studies show that extraction is justifiable at the time of the determination and under specific economic conditions

''reserve''   that part of a resource that can be mined at a profit under reasonably expected economic conditions

''resource''   mineralised body for which there is sufficient sampling information and geological understanding to outline a deposit of potential economic merit

 ''stringer''   a thin, discontinuous mineral vein or rock layer

''sulphide''   a mineral containing sulphur in its non-oxidised form

''t''   a metric tonne

 

END

 

 

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